Microsoft’s second-quarter results exceeded expectations with revenue increasing 15% year over year to USD 81.3 billion and an operating margin of 47.1%. Azure growth was strong at 38%, with commercial bookings up 228% driven by large deals. Third-quarter guidance is slightly better than expected. Stock remains a top pick, with a fair value estimate of USD 600 per share.

Read more at Morningstar: Microsoft Earnings: Good Quarter With AI Demand Ramping and Azure Good